- Loan-to-deposit ratio improved to 96% from 102% a year ago, reflecting improved liquidity.
- Net income for Q3 2025 was $23.8 million or $1.46 per diluted share, up from $19.6 million or $1.22 per diluted share in Q3 2024.
- Net income for the first nine months of 2025 totaled $65.9 million or $4.06 per diluted share, compared to $60 million or $3.72 per diluted share in the prior year period.
- Net interest margin remained stable at 3.5%, declining only 2 basis points despite a 96 basis point drop in SOFR over five quarters.
- Noninterest expenses increased by $2.4 million in Q3 and $7.3 million year-to-date, driven by higher salaries, benefits, and data processing costs.
- Provision for credit losses was $200,000 in Q3 2025 and $3.9 million for the first nine months, down from $1.1 million and $5.9 million respectively in 2024.
- Return on average assets was 1.5% and return on average equity was 14.7% for 2025.
- Tangible book value per share increased by 13% over the last four quarters, with a five-year CAGR of 8.4%.
Explore Similar Insights
- Adjusted net interest income per share rose 10% quarter-over-quarter and 47% year-over-year to $0.44 per share.
- GAAP book value and adjusted book value per share decreased to $9.11 and $10.26 respectively, representing a 2.8% and 1.6% decrease compared to March 31.
- Net interest spread increased to 150 basis points from 132 basis points in the first quarter, driven by a 17 basis point reduction in average financing costs.
- Net loss from real estate increased slightly to $3 million due to higher operating expenses.
- NYMT reported strong second quarter performance with Earnings Available for Distribution (EAD) surpassing the current common dividend by $0.02, reaching $0.22 per share, a 10% increase quarter-over-quarter.
- Realized net losses of approximately $3.8 million were mostly offset by reversals of previously recognized unrealized losses.
- Recorded $24.6 million in net unrealized gains mainly from Agency RMBS and residential loan portfolios, offset by $36.3 million in unrealized losses on derivative instruments.
- Recourse leverage ratio increased to 3.8x from 3.4x, primarily due to financing activity supporting Agency RMBS acquisitions.
- Agency RMBS modestly outperformed treasury hedges but underperformed swap hedges due to tightening swap spreads.
- Agency RMBS portfolio decreased 15% quarter-over-quarter due to risk management amid trade policy uncertainty.
- Debt-to-equity ratio decreased from 7.1x at the end of March to 6.5x at the end of June.
- Hedge notional declined from $4.5 billion to $4.3 billion, with hedge ratio increasing from 85% to 94%.
- Levered gross ROEs on higher coupons are in the low 20s, representing an attractive entry point for mortgage investors.
- Repurchase agreements collateralized by Agency RMBS and CMBS declined from $5.4 billion to $4.6 billion.
- Swap spreads tightened significantly, negatively impacting book value during the quarter.
- The $5.2 billion investment portfolio consisted of $4.3 billion in agency mortgages and $900 million in Agency CMBS.
- The economic return for the quarter was negative 4.8%, consisting of a $0.34 dividend per common share and a $0.76 decline in book value per common share.
- Adjusted non-interest expense was $1.3 billion, down 4% sequentially and 2% year over year, with controllable expenses down for the seventh consecutive quarter.
- Ally Financial delivered adjusted earnings per share of $0.99 and core pre-tax income of $480 million in Q2 2025, showing double-digit year-over-year growth.
- Consolidated net charge-off rate declined 40 basis points sequentially to 1.10%, with retail auto NCO rate down 37 basis points sequentially to 1.75%.
- Core ROTCE was 13.6% in the quarter, or 10% excluding AOCI effects.
- Corporate finance delivered a 31% ROE with core pre-tax income of $96 million and loan balances up $1.3 billion year over year.
- GAAP earnings per share were $1.04 for the quarter, with adjusted EPS at $0.99.
- Insurance business recorded a core pre-tax loss of $2 million due to higher losses despite premium growth.
- Net interest margin excluding core OID expanded 10 basis points quarter over quarter to 3.45%, offsetting a 20 basis point drag from the credit card business sale.
- Retail auto originations reached $11 billion with 3.9 million applications, the highest quarterly volume ever for the second consecutive quarter.
- Morgan Stanley reported record revenues of $18.2 billion and EPS of $2.80 for Q3 2025, highlighting exceptional financial performance.
- The firm demonstrated a robust return on tangible equity of 23.5%, reflecting strong operating leverage across its business segments.
- Total client assets increased by $1.3 trillion over the past year to reach $8.9 trillion, underscoring the firm's scale and client engagement.
- The firm maintains excess CET1 capital over 300 basis points, indicating significant capital strength and buffer.
- Management emphasized the importance of earnings durability and capital resilience amid geopolitical and economic uncertainties.
- The firm’s strategic focus remains on delivering consistent earnings and capital growth, with ongoing investments in technology and client services.
Dafinchi